What is Refinancing? Refinancing is a process of replacing an existing loan with a new one. The idea is to take the new loan and use it to pay off your current debt. However, it is important to understand that even if you refinance, your loan balance will not change. Meaning, you will need to […]
If you have recently filed for bankruptcy, you may think that you cannot get a new car for 7 to 10 years. This is not the case! You should know that you do not have to wait until the bankruptcy is cleared from your credit report to purchase a car. However, you will not want […]
How do credit scores work? Currently, your credit score is primarily based on your payment history. However, in 2019, a new scoring system will begin to take new information into account. This will potentially mean big increases to your credit score. What new information will be considered? The new scoring system is called UltraFICO. UltraFICO will […]
You may not know the difference between a secured debt or an unsecured debt. Knowing the difference between these debts is more important than you think. Understanding these differences are important to help you to prioritize paying off your debts, borrow money, and/or ensure that any assets tied to your debts will not be taken […]
Do you feel like your credit score is holding you back? Bad credit can make it difficult to get approved for a loan. It can also be the reason why your loan’s terms are less than desirable. Your financial difficulties should not hold you back from taking steps to improve your credit. Here are some […]
If you have been through bankruptcy, you might be tempted to avoid using credit entirely, but you need to re-establish credit. Rebuilding your credit after bankruptcy will take discipline and work on your part, but it is possible! Remember that discharging debt and high balances through bankruptcy makes it much easier to reestablished an improved […]
Coming to the decision to speak with an attorney is not easy. It can be intimidating to know which attorney to hire. We recommend that you do your research. Speak with different qualified bankruptcy attorneys before making any final decisions. However, we are confident that our office will provide you with the dedicated service that […]
Here are 4 ways you can keep your utilization rate at a maximum of 30% of your credit card limit: Transfer Debt Pay Down Existing Balances Increase Your Limits Open Another Card Transferring Debt You can distribute your debt among all your credit cards, so that the balance on all of them is below 30% […]
A utilization rate is simply the balance-to-limit ratio of your credit cards. You will want to keep all your credit card balances at a maximum of 30% of your credit card limit. Since credit scores change day-to-day, your credit card balance can appear higher on one day than another, say the day that you pay […]
Debt of any size can be stressful. Yet, most of us have some existing debt. So, how do you know if your situation requires professional help? First, sit down and assess your situation. Does your debt overshadow your assets? If so, you may want to consider bankruptcy or debt consolidation. Here are some important differences […]
